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Our annual salary survey reveals that the typical material handling and logistics professional earns $93,697. inventory/materials manager with a food & beverage manufacturer with 26-30 years of experience, living in the Middle Atlantic region and earning $107,000. Show me the money.”. The Nature of the Job.
Note: The following is an excerpt from “ Omni-Channel Logistics Leaders: Top 5 Inventory Insights ,” based on research conducted by Adelante SCM and LEGACY Supply Chain Services with input from nearly 100 supply chain professionals from retail, manufacturing, and logistics service providers companies in the United States and Canada.
This process involves handling returns, which can be due to various reasons, such as damage, defects, seasonal inventory, restock, salvage, recalls, or excess inventory. They may recall inventory from retailers or reprocess it because it has passed its sell-by date or demand is insufficient.
Listen to the full podcast interview here ) Source: Fort Of course, this stark reality was faced by many small and medium-sized businesses (SMBs) during the peak of the pandemic. Businesses quickly began to notice a different beast: a significant decrease in consumer demand compounded by looming inventory excesses. The key takeaway?
According to the National Retail Federation’s (NRF) annual back-to-school shopping survey, consumers plan to spend record amounts for both school and college supplies as families and students plan to return to in-person classrooms this fall. billion last year and an all-time high in the survey’s history. billion, up from $33.9
This type of data must be actively gathered by researching market trends, analyzing the competitive landscape, conducting consumer surveys and focus groups. Of course, the more data you need and the more sophisticated your methods are, the more expensive demand forecasting becomes. Qualitative data is more subjective.
Of course, it is helpful to have some statistics on hand to validate the statement above. According to a survey by Deloitte from 2014, 79 % of companies with high-performing supply chains achieve revenue growth superior to the average within their industries. In 2014, a survey by Tompkins Consortium delivered a shocking revelation.
Products, of course, can be picked up at the branches. Their associate engagement survey allows Ferguson to understand the driver’s impacting engagement across their 31,000 employees. The survey focuses on four engagement questions on advocacy, pride, satisfaction and commitment. 56% of employees surveyed were engaged.
Planning together allows companies to reduce excess inventory that builds up when they plan sequentially. Asking these what-if questions entails assessing the impact on multiple areas, such as packaging, production, inventory, distribution, and of course customers. Has that changed?
In a recent global survey conducted by our team, shippers reported congestion and capacity as their main pain points in today’s ocean environment. Of course, this would depend on the origin and destination of those goods. Expedited LCL options. Cost savings. It can also aid in saving on storage fees.
According to one survey , only 27% of leaders believe that they have the talent needed to meet current supply chain performance requirements. A skills assessment survey was done to measure potential gaps against a pre-determined skills matrix. What should supply chain leaders be looking for to close the talent gap?
According to a survey by Deloitte from 2014, 79 % of companies with high-performing supply chains achieve revenue growth greater than the average within their industries. In 2014, a survey by Tompkins Consortium delivered a shocking revelation. Inventory shortages. Inventory and storage costs. Click To Tweet.
cities over the course of the year, bringing the total number to 110. percent of returns, or $101 billion worth, were fraudulent last year, according to a survey by Appriss Retail and the National Retail Federation. billion worth, the survey found. Retailers estimate 13.7 percent, or $24.5
And, of course, when anyone buys goods in a store, part of that cost is freight. Freightos surveyed hundreds of importers who used Freightos.com ’s global freight booking platform in January 2021, and again in June 2021, to see how they’re navigating supply chain challenges. More freight costs, higher consumer costs.
As semesters unfolded, students saw course syllabi come to life in news headlines. These Generation Z graduates are strengthening an existing trend – 50% of millennials surveyed in an APICS report cited a strong corporate environmental responsibility program as a key factor in choosing an employer.
Simply put, as customers expect faster, cheaper, and better service, finding the right balance between inventory, transportation, and labor costs is more complex than ever. Many manufacturers and retailers have started down one path only to change course later as the scale and scope of their operations changed.
There are, of course, some other important differences between the two types of providers: 4PL is, in general, better suited for medium-to-large businesses , while 3PL is more suited to small-to-medium businesses. Even slight delays or inventory shortages can have a severe impact on a company’s bottom line. million USD in 2019.
According to the Business of Sustainability Index , despite intense inflation since 2020, 66% of general US customers and 80% of young adult (ages 18-34) US customers surveyed in 2022 are willing to pay more for sustainable products/companies that embrace sustainable practices. Clearly explain cause and effect. We hope you do!
Of course, the opposite is also true — when handled poorly, returns can hurt your brand. Disruption costs: Returns that aren’t handled properly can quickly pile up, interfere with order processing, cause inventory discrepancies, and take up costly warehouse space. Let’s take apparel, for example.
According to the Institute for Supply Management , 75% of the 600+ businesses surveyed in the United States experienced supply chain disruptions. It will also be best to build up your inventory and find backup suppliers from different locations in the event of a disruption. Partnering with a Logistics Expert.
Inventory Management. Not only is it very common for companies large and small to get inventory management wrong , it also tends to be one of the most detrimental mistakes, especially for smaller businesses and start-ups. Of course, manual systems allow small business owners to manage inventory with limited investment in systems.
It’s true that the major issues in the supply chain—which were confirmed through MH&L ’s workforce survey process and published in an earlier article —are nuanced. The solutions to supply chain problems boil down to the right combination of three factors—technology, data and processes.
We’d go so far as to say that these loyal fans are your most precious business asset — more valuable, even, than your inventory — and that’s saying something, coming from a 3PL that stores inventory! Of course, what you say is just as important as how you say it. So, how do you nurture this relationship and make the most of it?
In the supply chain articles category it is clear the top ten are all about trends, facts, technology, and of course optimization. The Benefits of Evolved Vendor Managed Inventory Model Led by Web-Based VMI. I called Fastenal, who specializes in Vendor Managed Inventory (VMI) for fasteners, in to see what we can do together.
The issue wasn’t poor planning – they had the inventory. Multiple calls only muddied the waters, but a few things became clear: inventory was in the warehouse, but my order for it was stuck. Events and disruptions are par for the course in supply chain, so we need tactics to kick in for problem resolution.
The operation will typically be highly automated, focused on efficiency and moving inventory in bulk. Equally critically, the introduction of DTC workflows into the process mix within the warehouse makes it still more important that the business has the right inventory identified for each and every channel. A route map forward.
The company was replenishing dealers’ inventory weekly, using direct shipment and cross-docking operations from source warehouses located near Deere & Company’s manufacturing facilities. The only option was to try to reduce levels of inventory, which, up to that point, had been kept very high to support a nine-week order cycle.
While high, the shipping costs typically paled in comparison to the lost sales due to inventory shortages. Including, of course by leveraging global freight tech for BCOs. This shaped the way BCOs approached 2022 and will likely continue to see supply chain; a new drive to ensure global freight shipping reliability at all costs.
Some try delving into deep learning or a crash course in generative AI (GenAI), but I don’t recommend starting there. Planners are buried in tedious tasks using legacy, fragmented technology, which 48% say doesn’t help them do their job effectively, according to a survey by the boom! Global Network.
Source: Council of Supply Chain Management Professionals 2017 Survey. Of course the same is true in many professions, but is particularly so in the arena of supply chain and logistics. Purchasing and Inventory Clerk. Inventory Controller. Council of Supply Chain Management Professionals 2017 Survey.
Note: The following is an excerpt from “ Omni-Channel Logistics Leaders: Top 5 Inventory Insights ,” based on research conducted by Adelante SCM and LEGACY Supply Chain Services with input from nearly 100 supply chain professionals from retail, manufacturing, and logistics service providers companies in the United States and Canada.
Overnight, the system has already recognized the shipments due out, the carriers in play, available inventory, staff, orders in progress, traffic and weather patterns, etc. The best course of action is to learn more now. A transportation manager comes in to start the day. It is not meant to replace warehouse workers.
The past In the past, logistics education was primarily centered on basic concepts and traditional models, such as inventory management, warehousing, and transportation (Christopher, 2016). Future of supply chain survey. building a winning team). Journal of Business Logistics, 35(3), 157-164. Gartner (2021). Gartner Research.
Cost is, of course, another important aspect of running a successful business. There is an interesting correlation between the success of the survey and the data technologies that are utilized as more companies start relying on digitized services. The Impact of Technology. Improving Data Shows the Real Strength of Trucking.
For those unaware of the term, shrink is an accounting term used to describe when a store has fewer items in stock than in its recorded book inventory. The recently released National Retail Security Survey shows that total shrink in 2021 reported by retailers is now almost a $100 billion problem.
Of course, gamification can only be used in processes requiring human input, since it drives performance by way of motivation. A survey conducted by TalentLMS found that 89% of employees believe that gamification makes them more productive. This statistic supports the growing adoption of gamification across supply chain operations.
The demand caught off-guard those retailers and suppliers who relied on just-in-time inventory practices. Of course, toilet paper and paper towels were in short supply as well. That’s when freight doesn’t follow its historical patterns as companies create just-in-case inventories to meet unpredictable consumer demand.
51% of the respondents in a global Reuters survey felt that the most perplexing challenge is the unpredictable nature of consumer demand. Of course, these sophisticated automated models will not give the full picture either, especially in a market run by the pandemic. Demand forecasting is hard. Concept of Predictive Analytics.
Source : Logistics Management 2018 Distribution Center Survey. . The need for fast, low-cost shipping is driving the placement of inventories , meaning more, but smaller fulfillment centres are necessary. Meanwhile, the requirement to avoid excessive inventory is as critical as it always was.
Throughout the course of business, there will be a series of recurring updates for equipment, software, and materials. However, 70 percent of respondents within the survey saw Reverse Logistics as a burdensome cost for the business. Cost Management.
According to a recent survey, only 15% of companies reported having either automated reporting or conveyance processes, and another 46% plan on automating reporting in the near future. Digitized inventory management can provide visibility into inventory levels at each location. Visibility on both ends plays a large part in this.
Inventory Management. Not only is it very common for companies large and small to get inventory management wrong , it also tends to be one of the most detrimental mistakes, especially for smaller businesses and start-ups. Of course, manual systems allow small business owners to manage inventory with limited investment in systems.
For an eCommerce business owner, the answer is obvious: How the heck do I get a handle on my inventory management ?! We’re talking, of course, about demand forecasting, or the process of predicting customer demand for a product or service. How often does inventory need to be replenished? Which products sell the quickest?
Amazon, of course, has been leading the way in e-commerce sales for the better part of the year as quarantine and lock down restrictions forced many shoppers to go online, rather than in-store. 2020 has been different from the norm in just about every single way imaginable, so it should come as no surprise that freight is going off the rails.
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